Board of directors meeting of Proposed restructuring of IGI Insurance Limited

Karachi, IGI Insurance Limited informed Pakistan Stock Exchange that is contemplating overall restructuring of Company group’s financial services business. One of the prime desired objectives of the proposed restructuring is to create a financial services holding company of the group in line with international practices that owns subsidiaries as may be feasible for the respective business. This revised structure will facilitate operations management and ownership in a focused/flexible manner.

IGI Insurance Limited a Packages Group Company, was incorporated in Pakistan as a public limited company in 1953 under Companies Ordinance, 1984. The insurance company is engaged in providing general insurance services in spheres of Fire, Marine, Motor, Health and Miscellaneous. The stocks of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan. The registered office of the Company is located in Karachi.

The company is currently engaged in the process of acquisition of American Life Insurance Company for the acquisition of ownership interest of 40,986,690 ordinary shares representing approximately 81.97% of the total issued, subscribed and paid up capital shares of the company.

The associated companies of the group includes packages limited, nestle Pakistan Limited, Sanofi-Aventis, Tri-Pack Films Limited, Treet Corporation Limited, Siemens Pakistan Engineering Company Limited, Coca-Cola Beverages Pakistan Limited, Mitchell’s Fruit Farms Limited, Zulfeqar Industries Limited, Loads Limited, IGI Investment Bank Limited and IGI Securities Limited.

The symbol “IGIIL” is being used by the stock exchanges for the shares of IGI Insurance Limited.